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High Yield Corporate Bond Market Summary:
Week Ending 3/21/25
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
Forward Calendar
The following are lists of upcoming high-yield corporate bond offerings in the United States
| Issuer | Deal Information | Banks | Expected Issue Date |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 3/14/25 – 3/21/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | CSCHCN 4.5 8/19/2027 | 4.50% | 08/19/27 | 9.68% | 30.37 | 27.69 | 14 |
| 2 | NFE 6.5 9/30/2026 144A | 6.50% | 09/30/26 | 9.17% | 90.00 | 82.44 | 26 |
| 3 | GTN 4.75 10/15/2030 144A | 4.75% | 10/15/30 | 8.92% | 62.83 | 57.69 | 27 |
| 4 | CNECN 5.75 11/24/2028 144A | 5.75% | 11/24/28 | 8.80% | 53.69 | 49.35 | 21 |
| 5 | SSP 5.375 1/15/2031 144A | 5.38% | 01/15/31 | 7.79% | 58.21 | 54.00 | 21 |
| 6 | BHCCN 5.75 8/15/2027 144A | 5.75% | 08/15/27 | 7.39% | 99.74 | 92.88 | 23 |
| 7 | CYH 6.125 4/1/2030 144A | 6.13% | 04/01/30 | 7.24% | 62.32 | 58.11 | 22 |
| 8 | BAKIDE 7.45 11/15/2029 REGS | 7.45% | 11/15/29 | 6.79% | 81.66 | 76.47 | 25 |
| 9 | MUTARE FLT 9/19/2029 | 8.64% | 09/19/29 | 6.52% | 97.87 | 91.87 | 10 |
| 10 | IHRT 10.875 5/1/2030 144A | 10.88% | 05/01/30 | 6.30% | 51.41 | 48.36 | 20 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 3/14/25 – 3/21/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | HTZ 5 12/1/2029 144A | 5.00% | 12/01/29 | -17.01% | 49.75 | 59.94 | 26 |
| 2 | FBM 6 3/1/2029 144A | 6.00% | 03/01/29 | -7.27% | 79.03 | 85.23 | 21 |
| 3 | NINE 13 2/1/2028 | 13.00% | 02/01/28 | -5.20% | 66.40 | 70.05 | 14 |
| 4 | CNR 9.5 8/15/2029 144A | 9.50% | 08/15/29 | -5.18% | 86.37 | 91.08 | 25 |
| 5 | UKRAIN 0 2/1/2034 REGS | 0.00% | 02/01/34 | -4.32% | 42.22 | 44.12 | 24 |
| 6 | BLMN 5.125 4/15/2029 144A | 5.13% | 04/15/29 | -3.86% | 87.24 | 90.75 | 21 |
| 7 | TURKEY 5.75 5/11/2047 | 5.75% | 05/11/47 | -3.72% | 73.89 | 76.75 | 21 |
| 8 | XRX 8.875 11/30/2029 144A | 8.88% | 11/30/29 | -3.61% | 77.95 | 80.86 | 24 |
| 9 | PRIMIN 9 2/15/2030 144A | 9.00% | 02/15/30 | -3.54% | 83.82 | 86.90 | 20 |
| 10 | ZOREN 11 4/23/2030 REGS | 11.00% | 04/23/30 | -3.53% | 97.61 | 101.18 | 21 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 3/14/25 – 3/21/25
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of HY Corps increasing in price (advancers) vs. HY Corps decreasing in price (decliners) between 3/14/25 – 3/21/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 3/14/25 vs. the week ending 3/21/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | FSBIOE 8.875 2/12/2031 REGS | 8.88% | 02/12/31 | 50 | 172 | 122 | 244% |
| 2 | NWG 8 PERP | 8.00% | NULL | 260 | 335 | 75 | 29% |
| 3 | ROLLS 3.625 10/14/2025 144A | 3.63% | 10/14/25 | 73 | 148 | 75 | 103% |
| 4 | SM 6.75 9/15/2026 | 6.75% | 09/15/26 | 208 | 278 | 70 | 34% |
| 5 | BRANDI 10.375 8/1/2030 144A | 10.38% | 08/01/30 | 120 | 188 | 68 | 57% |
| 6 | ODYSEU 10 12/31/2025 144A | 9.00% | 12/31/25 | 18 | 70 | 52 | 289% |
| 7 | WLSC 6.125 6/15/2025 144A | 6.13% | 06/15/25 | 210 | 260 | 50 | 24% |
| 8 | TEREOS 5.875 4/30/2030 REGS | 5.88% | 04/30/30 | 74 | 123 | 49 | 66% |
| 9 | ARDFIN 5 6/30/2027 144A | 5.75% | 06/30/27 | 38 | 85 | 47 | 124% |
| 10 | AKUCN 9 8/1/2027 144A | 8.00% | 08/01/27 | 94 | 140 | 46 | 49% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 3/14/25 – 3/21/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | F 3.25 2/12/2032 | 3.25% | 02/12/32 | 37 |
| 2 | F 6.1 8/19/2032 | 6.10% | 08/19/32 | 37 |
| 3 | SANTAN 8 PERP | 8.28% | NULL | 36 |
| 4 | GFLCN 5.125 12/15/2026 144A | 5.13% | 12/15/26 | 36 |
| 5 | GEL 8 1/15/2027 | 8.00% | 01/15/27 | 36 |
| 6 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 36 |
| 7 | F 6.125 3/8/2034 | 6.13% | 03/08/34 | 36 |
| 8 | F 5.875 11/7/2029 | 5.88% | 11/07/29 | 35 |
| 9 | BACR 6.125 PERP | 6.13% | NULL | 35 |
| 10 | INTNED 7.25 PERP | 7.25% | NULL | 35 |
Bid-Offer Spread by Industry
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 3/14/25 – 3/21/25
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